Reliance Jio Infocomm Ltd ("RJIL") has declared that the final trading agreement with Bharti Airtel Limited has been signed. "For acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh (2 x 3.75 MHz), Delhi (2 x 1.25 MHz) and Mumbai (2 x 2.5 MHz) circles through spectrum trading, which has been taken on record by DOT," the agreement has been concluded by Reliance Jio.
According to the official announcement of RJIL "RJIL has paid total consideration of Rs 1,183.3 crores (inclusive of taxes) to Bharti Airtel and has assumed deferred payment liability with net present value of Rs 469.3 crores." The report has also further added that "With this trading of right to use spectrum, RJIL will have 800 MHz band spectrum footprint of 2 x 15MHz in Mumbai circle and 2 x 10 MHz each in Andhra Pradesh and Delhi circles, thereby further enhancing network experience of its customers."
Reliance Jio Infocomm Limited, a subsidiary of Jio Platforms Limited, has built a world-class all-IP data strong future proof network with the latest 4G LTE technology. It is the only network conceived and born as a Mobile Video Network from the ground up and supporting Voice over LTE technology. It is future-ready and can be easily upgraded to support even more data, as technologies advance on to 5G, 6G, and beyond.